I saw it last Monday. I missed the first Hobbit installment and didn't really know what to expect except that it would contain the usual cast of unworldly characters and dazzling CGI.
Man, what wonderful CGI! It is made for 3D and has to be enjoyed in 3D. One stunning set piece to the next, starting with Mirkwood Forest and ending in the mountain city of Erebor. First was the visual delights of the arboreal abode of the Wood Elves - a kingdom atop really huge trees. Everything about it is huge and vertigo-inducingly tall. The architecture of their city is intricate, with great attention to details. And then there is the grand architecture of the mysterious and abandoned castle of Don Guldur that Gandalf uncovered from a spell that hid its inhabitants. Then the thrilling escape sequence on wine barrels down a fast flowing river that takes our heroes to the city on the lake. Last, but not the least, is the forlorn city (Erebor) on the mountain that Smaug claimed as his own.
The story never slackened for a moment. The character of the Wood Elves were quite fleshed out. One had a glimpse of high-level power play (and dissent) in the interactions of the bewitching Tauriel with the king and his son Legolas.
Perhaps the dragon was given too many lines to mouth.
Though the Orcs are given a fair amount of screen time, it would have been nicer if some of their characters were more fleshed out. They came like a procession of arrow or sword fodder in the many fight scenes. Visually, they were never clearly portrayed and were always shown in dark scenes that hid the details in their characters. I don't know if that is intentionally done to maintain the dark aura around the whole Orc characters.
And the way the film ended rather abruptly was so disappointing. It left you distinctly wanting more!
Must watch.
I am going for an encore this evening